Mobclix is a mobile ad exchange network which was acquired by Velti back in late 2010. Velti is a publicly traded company on the NASDAQ with a market cap of roughly $76 million. Over the past year, the stock price has risen as high as $10.43 per share but currently has dipped to $1.16 per share.
As a relatively large company on paper, it would seem there would be no problems for the company paying its iOS and Android developers that serve their ads within apps, right? Well, that doesn’t seem to be the case as Mobclix has essentially stopped paying its developers altogether and fallen behind on payments, according to this lengthy thread over at the iPhoneDevSDK forums.
Some developers have launched a class-action law suit against the company and as of April 30, 2013, the amount owing claimed to be over $500,000. This website here has been created to inform developers of the ongoing battle to receive late payments, with the creator recently getting paid as of June 8, 2013, after transferring the late payments over to a debt collection agency.
However, speaking with Canadian iOS developer Tyler (last name held back for confidentiality), who is currently owed thousands from Mobclix, the situation remains bleak as he has not received a normal scheduled payment in over a year without calling the company numerous times, with that number rising to well over 100 calls made.
According to Tyler, he says late payments by Mobclix “is nothing short of robbery with what they are doing,” as the company has failed to stick to their net 90 terms, part of a signed agreement with developers. Tyler has relentlessly tried to get paid, but to no avail.
— 6foot3foot (@6foot3foot) July 14, 2013
We’ve reached out to Velti/Mobclix for comment on this matter, and will update this post accordingly.
Are you a developer waiting to be paid by Mobclix? How much are you owed? When was the last time you got paid?